Hortica Joins Forces with Sentry Insurance

Chris Beytes

As growers and retailers evolve and change with the times, so, too, do the companies that serve them. Think breeder and distributor consolidation in recent years.

Insurance providers are no different—it takes size, scale and resources to continue to provide the best products and services. To that end, Hortica Insurance has recently signed an affiliation agreement with Sentry Insurance, a major mutual insurance company. Hortica will retain its name and brand, and remain based in Edwardsville, Illinois, near St. Louis.

Why join forces with Sentry? Economies of scale, they told GrowerTalks. Hortica is a specialized niche insurance company, with $70 million in premium writings. That’s small in the insurance world and it means they pay the equivalent of retail for things such as licensing, actuarial services and reinsurance. Sentry has $2 billion in premium writings. That’s big and it means Hortica can get those services at a lower cost, increasing profitability and, hence, the services it can provide to policyholders. And it will allow Hortica to insure larger businesses than it was able to in the past.

Or, as Sentry President/CEO/Chairman Pete McPartland said in the press release, “Our affiliation will provide Hortica with the services, financial support and purchasing power needed to thrive in their market.” GT